When to enrol for the JobKeeper Payment

The Government has introduced a $130 billion JobKeeper Payment scheme to support businesses significantly affected by the coronavirus to help keep more Australians in jobs.

The JobKeeper payment is open to eligible employers to enable you to pay your eligible employee’s salary or wages of at least $1,500 (before tax) per fortnight.

It is imperative that you understand the steps you need to take to enrol for the JobKeeper payment! 

  1. Register your interest on the ATO website
  2. Check you and your employees meet the eligibility criteria.
  3. Continue to pay at least $1,500 to each eligible employee per JobKeeper fortnight (the first JobKeeper fortnight is the period form 30 March to 12 April).
  4. Notify your eligible employees that you are intending to claim the JobKeeper payment.
  5. Send the JobKeeper employee nomination notice to your nominated employees to complete and return to you by the end of April if you plan to claim the JobKeeper payment for April. Keep it on file and provide a copy to your registered tax agent.
  6. From 20 April 2020, you can enrol with the ATO for the JobKeeper payment using the Business Portal and authenticate with myGovID. You must do this by the end of April to claim JobKeeper payments for April.
  7. In the online form, provide your bank details and indicate if you are claiming an entitlement based on business participation, for example, if you are a sole trader.
  8. Specify the estimated number of employees who will be eligible for the first JobKeeper fortnight (30 March – 12 April) and the second JobKeeper fortnight (13 April – 26 April).

All JobKeeper payments are assessable income of the business that is eligible to receive the payments. The normal rules for deductibility apply in respect of the amounts a business pays to its employees where those amounts are subsidised by the JobKeeper payment. The JobKeeper payment is not subject to GST.

New rules are being introduced by the government with the intention to not require super guarantee to be paid on additional payments that are made to employees as a result of JobKeeper payments. We will update this information once legislation is in place.

Please be aware that there are significant penalties for lodging incorrect applications or not paying the correct amounts to your employees .

For more information please visit the ATO website or contact The Money Edge. 

The Money Edge | Bundaberg

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